Mumbai, April 1 -- IHC, one of the world's largest investment companies and the most valuable listed holding company in the Middle East with a market cap approximately $32 bn, (Rs 22 lakh crore).

Through its affiliate, Avenir, IHC will acquire a 41.5% stake in Sammaan Capital via a preferential allotment of equity shares and warrants for a total transaction value of $1 billion (Rs 8,850 crore). Sammaan Capital has already received an initial tranche of Rs 5,652 crore ($600 million) towards the allotment, while the remaining Rs 3,198 crore (around $338 million) will be received within 18 months upon conversion of warrants into equity shares.

Additionally, a mandatory open offer will be launched to acquire up to 26% of the company's expan...